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LIC moves towards better customer relations

Plans to start a new portal for its policyholders

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(LIC) is embarking on a number of customer relationship management initiatives to retain its foothold in the market, in the wake of private players inching their way up in the life insurance sector.
 
The Insurance behemoth is planning to tie-up with a number of banks to enable a payment gateway wherein the policyholders can make their premium payments via credit cards.
 
LIC is planning to start a new portal for its policyholders where a customer can log in, get details on his/her policies, change the resident address when he/she shifts to a new place and even take a printout of the income tax certificate. The portal is likely to be ready in a month's time.
 
Besides, it has already started work on allotment of customer folio number to know each customer's holding.
 
"The allotment of customer folio number for all our holders will still take a year's time in this zone," H Nanda, regional manager, information technology, LIC (south-central zone), said.
 
"The electronic clearance system that we have launched at Hyderabad, Bangalore, Vijayawada and Visakhapatnam, has been doing very well. Here the customer's premium is automatically debited from his account at the time of payment," he added. Shortly, the zone will also see the launch of this system in Mysore, Mangalore and Hubli.
 
"This month, we will also be setting up five satellite branches in the zone, with two being in Hyderabad and three in Bangalore," A K Sahoo, regional manager (marketing), LIC (south-central zone), said at a press conference organised on the occasion of the beginning of the golden jubilee year for LIC.
 
Regarding the recently launched Bima Gold policy, a money-back policy with premium payment options, the corporation plans to sell 15 lakh policies this year in the south central zone with the national figure being one crore.
 
LIC also plans to launch three-four products this year with one of these being unit-linked insurance plan in October. As on August 31, 2005, the zone has issued 12,47,795 policies under new business.

 
 

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